Fusion-io Climbs After Pricing Shares Above Range in IPO
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Fusion-io Inc., the maker of flash-memory technology for companies including Facebook Inc., surged on its first day of trading after pricing its shares above the proposed range in an initial public offering.
The stock, listed under the symbol FIO, rose $3.50, or 18 percent, to close at $22.50 in New York Stock Exchange composite trading. The Salt Lake City-based company raised $233.7 million in its IPO, selling 12.3 million shares for $19 each, according to a statement yesterday.